China – Job market remains stable in May (Xinhua)
China's job market remained generally stable in May, with the surveyed unemployment rate in urban areas standing at 5.9%, down 0.1% from the previous month reports Xinhua, citing official data from the National Bureau of Statistics. A total of 4.6 million new urban jobs were created in the first five months of 2020, down 1.37 million compared with the same period of last year. The surveyed unemployment rate among those aged between 25 and 59, the majority of the labour market, stood at 5.4% in May, down 0.1% from April.
Meanwhile, the surveyed rate in 31 major cities was 5.9% in May, up 0.1% from April. The surveyed urban unemployment rate is calculated based on the number of unemployed people who have participated in the employment survey in urban areas, including migrant workers in cities. China said it will give priority to stabilising employment and ensuring living standards this year, aiming to add over 9 million new urban jobs and keep the surveyed urban unemployment rate at around 6%.